Research On The Influence Of Competition Neutrality And Mixed Reform Of State-owned Enterprises On The Efficiency Of State-owned Enterprises

The report of the 20 th CPC National Congress points out that it is necessary to "improve the modern enterprise system with Chinese characteristics and accelerate the construction of world-class enterprises".State-owned enterprises(SOEs)are an important material and political foundation of socialism with Chinese characteristics,and an important pillar and relying on force of our Party’s governance.To build world-class enterprises and realize the high-quality development of state-owned enterprises,improving the efficiency of state-owned enterprises is the premise and foundation.At present,under the influence of domestic and international environment,the factors affecting the efficiency of stateowned enterprises have changed significantly.From the external environment perspective,China’s economic development is facing a new situation of competitive neutrality,which requires fair competition between state-owned enterprises and private enterprises.Competitive neutrality is also the need for China’s state-owned enterprises to participate in international competition and enter the international market.From the internal perspective,as China’s state-owned enterprises have experienced market-oriented reform,property rights reform and competitionoriented progressive reform,the mixed reform of state-owned enterprises,as an important way of state-owned enterprise reform at this stage,needs to improve the efficiency of state-owned enterprises from its own perspective,from the aspects of equity structure,operation management and corporate governance.Therefore,to base on the new development stage,implement the new development concept,build a new development pattern,and achieve high-quality development,it is necessary to study the efficiency of state-owned enterprises from a new perspective and identify the internal and external factors that affect the efficiency of state-owned enterprises.Accordingly,this dissertation raises the following questions:(1)Is competitive neutrality conducive to improving the efficiency of state-owned enterprises?(2)Is the mixed reform of state-owned enterprises conducive to improving the efficiency of state-owned enterprises?(3)Are the effects of competitive neutrality and mixed reform on the efficiency of state-owned enterprises complementary or substitutive?The purpose of this study is to explore the key internal and external factors affecting the efficiency of state-owned enterprises: Namely,competition neutrality and the mixed reform of state-owned enterprises,scientifically understand the internal logic of the impact of competition neutrality and the mixed reform of state-owned enterprises on the efficiency of state-owned enterprises,and evaluate the impact of competition neutrality and the mixed reform of state-owned enterprises on the efficiency of state-owned enterprises at this stage,so as to give play to the advantages of competition neutrality and the mixed reform of state-owned enterprises,improve the overall synergy of the two,and achieve the goal of improving the efficiency of state-owned enterprises.To solve the above problems,this dissertation focuses on the following five aspects:First,the decomposition of efficiency of state-owned enterprises.According to Marx’s theory of production efficiency,the efficiency of state-owned enterprises is divided into labor productivity,total factor productivity and management efficiency,which are the corresponding indicators to measure the efficiency of state-owned enterprises.Through the analysis of labor theory of value,this dissertation finds that labor productivity of state-owned enterprises is the basis of efficiency of stateowned enterprises and carries on the corresponding definition and index construction of labor productivity.Through the analysis of production efficiency,it is found that total factor productivity is the driving force of state-owned enterprise efficiency,and the corresponding definition and index construction of total factor productivity are carried out.Through the analysis of input labor,capital,and management factors,it is found that management efficiency is the guarantee of stateowned enterprise efficiency,and the corresponding definition and index construction of management efficiency are carried out.Second,analyze the impact of competitive neutrality on the efficiency of stateowned enterprises.Based on the dynamic and objective law of social institutional change,ownership theory and production efficiency theory of Marxist political economy,this dissertation analyzes the mechanism of the effect of competition neutrality on the efficiency of state-owned enterprises.At the same time,the corresponding research hypothesis is put forward according to the theoretical analysis.Through the empirical test of the research hypothesis,the relevant conclusions are drawn.Third,analyze the impact of the mixed reform on the efficiency of state-owned enterprises.Guided by the theory of ownership and the theory of production efficiency of Marxist political economy,this dissertation analyzes the mechanism of the effect of the mixed reform on the efficiency of state-owned enterprises.At the same time,the corresponding research hypothesis is put forward according to the theoretical analysis.Through the empirical test of the research hypothesis,the relevant conclusions are drawn.Fourth,analyze the joint impact of competition neutrality and mixed reform on the efficiency of state-owned enterprises.Under the theoretical guidance of Marxist dialectical materialism and contradiction analysis,this dissertation proposes that whether competition neutrality and mixed reform of state-owned enterprises are complementary or substitutive.Combined with the institutional change theory,property rights theory and production efficiency theory of western economics,this dissertation analyzes the mechanism of competition neutrality and mixed reform of state-owned enterprises on the efficiency of state-owned enterprises.At the same time,the corresponding research hypothesis is put forward according to the theoretical analysis.Through the empirical test of the research hypothesis,the relevant conclusions are drawn.Fifth,based on the empirical conclusions of the above questions,the dissertation puts forward some countermeasures and suggestions to promote the competitive neutrality and the mixed reform of state-owned enterprises synergistically to improve the efficiency of state-owned enterprises.According to the conclusion of the empirical analysis,the overall idea of synergistic promotion of competition-neutral,state-owned enterprises mixed reform is proposed,and the four aspects of ideological synergy,institutional synergy,industrial synergy and organizational synergy are used as specific measures and implementation paths of synergistic promotion to achieve the goal of enhancing the efficiency of state-owned enterprises.The main conclusions of this dissertation are summarized in the following five aspects:First,the key internal and external factors affecting the efficiency of stateowned enterprises: competitive neutrality and mixed reform of state-owned enterprises.Competition neutrality is an important external factor affecting the efficiency of state-owned enterprises,and the mixed reform of state-owned enterprises is an important internal factor affecting the efficiency of state-owned enterprises.The mechanism of competition neutrality and the mixed reform of stateowned enterprises affecting the efficiency of state-owned enterprises is reflected as follows: As a policy proposition,system and market environment faced by China’s market economic system reform,competitive neutrality affects enterprise production,product price setting and scientific and technological innovation input through three aspects of enterprise operation neutrality,government assistance neutrality and regulatory obligation neutrality,and ultimately affects the efficiency of state-owned enterprises.The mixed reform of state-owned enterprises is based on the basic premise of "two unwavering".Through the effect on the property right structure and corporate governance of state-owned enterprises,the production factors of stateowned enterprises are rationally allocated,thus affecting the production of products,quality,technology research and development,investment,and application,and ultimately affecting the efficiency of state-owned enterprises.According to Marxist economic theory,competitive neutrality and mixed reform of state-owned enterprises are complementary or substitute when they jointly affect the efficiency of state-owned enterprises.Second,competitive neutrality can improve the efficiency of state-owned enterprises and has heterogeneity.First,competitive neutrality can improve labor productivity in state-owned enterprises.With the improvement of the competitive neutrality of the provincial administrative units of state-owned enterprises,the labor productivity of state-owned enterprises will increase.At the same time,the effect of competition neutrality on the labor productivity of state-owned enterprises is characterized by the heterogeneity of firm size and the heterogeneity of two-job integration: the effect of competition neutrality on the labor productivity of large state-owned enterprises is greater than that of small and medium-sized state-owned enterprises,and the effect of competition neutrality on the labor productivity of twojob integration state-owned enterprises is greater than that of two-job separation state-owned enterprises.Second,competition neutrality can improve total factor productivity.With the improvement of the competitive neutrality of the provincial administrative units of state-owned enterprises,the total factor productivity of stateowned enterprises can be improved.At the same time,the effect of competition neutrality on the total factor productivity of state-owned enterprises is characterized by the heterogeneity of firm size and the heterogeneity of two-job integration: the effect of competition neutrality on the total factor productivity of large state-owned enterprises is greater than that of small and medium-sized state-owned enterprises,and the effect of competition neutrality on the total factor productivity of two-job integration state-owned enterprises is greater than that of two-job separation stateowned enterprises.Third,competitive neutrality can improve the management efficiency of state-owned enterprises.With the improvement of the competitive neutrality of the provincial administrative units of state-owned enterprises,the management efficiency of state-owned enterprises can be improved.At the same time,the effect of competition neutrality on the management efficiency of stateowned enterprises is characterized by the heterogeneity of board independence and the heterogeneity of two-job integration: The effect of competition neutrality on the management efficiency of low-independence state-owned enterprises is greater than that of high-independence state-owned enterprises,and the effect on the management efficiency of two-job separation state-owned enterprises is greater than that of two-job integration state-owned enterprises.Third,the mixed reform of state-owned enterprises can improve the efficiency of state-owned enterprises also has heterogeneity.First,the mixed reform of stateowned enterprises can improve labor productivity of state-owned enterprises.After the state-owned enterprises implemented the mixed ownership reform,their labor productivity was improved.At the same time,the effect of the mixed reform on the labor productivity of state-owned enterprises has the heterogeneity of enterprise scale and the heterogeneity of the integration of two jobs: The effect of the mixed reform on the labor productivity of large state-owned enterprises is less than that of small and medium-sized state-owned enterprises,and the effect of the mixed reform on the labor productivity of two-job integration state-owned enterprises is greater than that of the separation of two jobs state-owned enterprises.Second,the mixed reform of state-owned enterprises can improve total factor productivity.The implementation of mixed ownership reform in state-owned enterprises has improved total factor productivity.The mixed reform of state-owned enterprises has the heterogeneity of enterprise size on the total factor productivity of state-owned enterprises,and the improvement effect on the total factor productivity of large state-owned enterprises is greater than that of small and medium-sized state-owned enterprises.The heterogeneity of the effect of mixed reform on the improvement of total factor productivity is only partially supported by empirical evidence: the effect on the integration of two jobs in state-owned enterprises is large but not significant,and the effect on the separation of two jobs in state-owned enterprises is small but significant.Third,the mixed reform of state-owned enterprises can improve the management efficiency of state-owned enterprises.After the mixed ownership reform of state-owned enterprises,their management efficiency has been improved.At the same time,the effect of the mixed reform on the management efficiency of state-owned enterprises is characterized by the heterogeneity of board independence and the heterogeneity of two-job integration: the improvement effect of the mixed reform on the management efficiency of high-independence state-owned enterprises is greater than that of low-independence state-owned enterprises,the improvement effect on the management efficiency of two-job separation state-owned enterprises is large and significant,and the improvement effect on the management efficiency of two-job integration state-owned enterprises is small and insignificant.Fourth,the impact of competition neutrality and the mixed reform of stateowned enterprises on the efficiency of state-owned enterprises at this stage has substitution effect and heterogeneity and lacks complementary effect.First,the joint impact of competition neutrality and the mixed reform on the labor productivity of state-owned enterprises is the substitution relationship.The higher the degree of competition neutrality,the less the effect of state-owned enterprises mixed reform on improving state-owned enterprises labor productivity,and vice versa.At the same time,the substitution effect of competition neutrality and mixed reform of stateowned enterprises on labor productivity of state-owned enterprises has the heterogeneity of firm size and the heterogeneity of two-job integration: the substitution effect of competition neutrality and mixed reform of state-owned enterprises on labor productivity is more obvious in large state-owned enterprises,and more obvious in the two-job separation state-owned enterprises.Second,the joint impact of competition neutrality and mixed reform on the total factor productivity of state-owned enterprises is also a substitution relationship.The higher the degree of competition neutrality,the smaller the effect of state-owned enterprises mixed reform on improving the total factor productivity of state-owned enterprises,and vice versa.Fifth,coordinated promotion of competition neutrality,state-owned enterprise mixed reform to improve the efficiency of state-owned enterprises countermeasures and suggestions.Starting from the four aspects of synergistically promoting the organic integration of the government and the market,synergistically promoting the strategic framework of fairness and efficiency,synergistically promoting industrial policy and competition policy,and synergistically promoting organizational leadership and organizational innovation,and taking a fair competition review mechanism,an evaluation mechanism,and a feedback mechanism as a safeguard mechanism,it will synergistically promote the competition-neutral,state-owned enterprise mixing and reform,and thereby achieve the goal of enhancing the efficiency of state-owned enterprises.This dissertation carries out innovative research from the research perspective,empirical research and theoretical analysis,and the three innovative points are as follows:First,this dissertation proposes that there is a complementary and substitutional relationship between competition neutrality and mixed reform of state-owned enterprises when the two jointly affect the efficiency of state-owned enterprises.The empirical test shows that at present,when competition neutrality and mixed reform of state-owned enterprises jointly affect the efficiency of state-owned enterprises,there is only a substitution effect,but no complementary effect.Studies on the efficiency of state-owned enterprises in existing literatures usually start with macro efficiency and micro efficiency.This dissertation studies the impact on the efficiency of state-owned enterprises from the perspectives of competition neutrality and mixed reform of state-owned enterprises,scientifically understanding and grasping the complementary or substitute relationship between competition neutrality and mixed reform of state-owned enterprises and combines China’s national conditions and the status quo of state-owned enterprises.It deepens the research on the influence of competition neutrality and mixed reform of state-owned enterprises on the efficiency of state-owned enterprises and provides a new perspective for improving the efficiency of state-owned enterprises.Secondly,this dissertation identifies the mixed ownership reform of stateowned enterprises more scientifically and employs econometric empirical research methods to verify the effects of competitive neutrality and mixed ownership reform of state-owned enterprises on the efficiency of state-owned enterprises.In this dissertation,the proportion of state ownership in any year is lower than that in the previous year is regarded as the state-owned enterprises has implemented mixed ownership reform.Following this identification method,this dissertation collects data on all listed state-owned enterprises in A-share from 2014-2021,and there are1,087 state-owned enterprises after removing missing values,among which 847state-owned enterprises have implemented mixed reform.The empirical test concludes that the mixed reform of state-owned enterprises improves the efficiency of state-owned enterprises,the labor productivity of state-owned enterprises that implement mixed reform is 6.17% higher than those that do not,the total factor productivity of state-owned enterprises that implement mixed reform is 0.91%higher than those that do not,and the management efficiency of state-owned enterprises that implement mixed reform is 2.58% higher than those that do not.The identification method of this dissertation is more accurate than that of the previous related literature,and the conclusions drawn are more precise to show the improvement of state-owned enterprises’ efficiency in the three aspects of labor productivity,total factor productivity and management efficiency by state-owned enterprises’ mixed reform.At the same time,this dissertation uses the data of all Ashare listed state-owned enterprises companies from 2008-2021 with 13,653 sample sizes to verify the proposed hypotheses one by one at the micro level,and concludes that competitive neutrality is conducive to improving the efficiency of state-owned enterprises,state-owned enterprises mixed is conducive to improving the efficiency of state-owned enterprises,and that there is a substitution effect of the influence of competitive neutrality and state-owned enterprises mixed on the efficiency of stateowned enterprises and a lack of complementary effect,which provides a basis for the next step of proposing countermeasures and suggestions.This provides the basis for the next countermeasures to be put forward.Thirdly,this dissertation puts forward the countermeasure suggestion of synergistically promoting competition neutrality and state-owned enterprise mixed reform to enhance the efficiency of state-owned enterprises,which is of great theoretical and practical significance.Based on the analysis of the status quo that competition neutrality and state-owned enterprises mixed reform jointly affect the efficiency of state-owned enterprises,the empirical test proves that at this stage,there is only a substitution between competition neutrality and state-owned enterprises mixed reform and a lack of complementarity.Therefore,it is necessary to strengthen the efficient complementarity between competitive neutrality and stateowned enterprises mixed reform on the base of the independent influence of competitive neutrality and state-owned enterprises mixed reform to further enhance the efficiency of state-owned enterprises.Based on the facts of the current competitive environment between Chinese state-owned enterprises and private enterprises,this dissertation puts forward the overall idea of synergistically promoting competition neutrality and SOEs’ mixed reforms,and ensures that the complementarities between competition neutrality and SOEs’ mixed reforms are enhanced from four aspects: ideological synergies,institutional synergies,industrial synergies,and organizational synergies,so as to improve the efficiency of SOEs.